Student housing rents rise slower than market rates
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On average, student rents grew slower than market-rate leases in Boulder over the past five years, according to Moody's data shared with Axios.
Why it matters: Expensive student housing for students, including at University of Colorado Boulder, adds to the already-high cost of college.
By the numbers: Average student rents grew by 16.8%% from 2020 to 2025 in Boulder, while average market-rate rents increased 22.4%.
Zoom in: Limited supply has been a historical problem for Boulder both in the student and multi-family housing market, but several large projects are in the works.
What we're watching: CU Boulder is seeking regents' approval for a 400-unit on-campus student housing building next to the University Heights neighborhood.
- A Chicago-based developer is trying to turn the Naropa University campus at 2130 Arapahoe Ave., into multi-building housing with more than 100 units.
- The Saddle Creek development at 90 Arapahoe Ave., proposes 46 attached for-sale homes, including duplexes and triplexes.
- Boulder officials plan to break ground on the massive Alpine-Balsam redevelopment project next week.
- The Alpine-Balsam project is scheduled to include 150 permanently affordable housing units, with work on those set to begin in 2026.
The big picture: Nationally, rent growth for market-rate apartments has outpaced that of student housing, says Ricardo Rosas, Moody's associate data scientist.
- Yes, but: Over the past five years, roughly 24% of 140 colleges and universities analyzed saw student rents increase faster than market-rate rents.
Between the lines: When rents rise in a metro area, student housing tends to follow, research suggests.
- Strong demand to live near campus instead can also keep student rents high. So can luxury apartments (think: saunas, yoga studios and infinity pools), which have gone up in many student housing markets.
The bottom line: "While multifamily rents continue to command higher rates, the rapid growth in student housing rents is creating a mounting affordability crisis for students," according to a recent Moody's analysis.
- The financial strain could limit access to higher education, especially for lower-income students.